Job vacancy: Senior Analyst (Risk) within Insurance & Pensions Supervision
Job code: IPS/023/19
*During these challenging times, MFSA is doing all it can to keep employees & the general public safe. We are conducting online interviews & induction sessions for new employees and working remotely as much as possible. For those employees that need to be in the office, we are ensuring that every precaution is being taken.
About Insurance & Pensions Supervision:
The Insurance and Pensions Supervision is responsible for the supervision of insurance companies, insurance intermediaries, retirement schemes, retirement funds, and retirement service providers. The team employs professionals with a varied background and comprises skills related to insurance, pensions, accounting, legal, quantitative analysis, actuarial skills, compliance, and others.
The eventual appointee will be joining the Compliance and Risk Management team to assist the team in the onsite and offsite prudential supervision of insurance and pensions licence holders. Reporting into the Deputy Director – Compliance and Risk Management team within the Insurance and Pensions Supervision, the individual will be expected to carry out the following tasks:
- Reviewing, assessing and analysing the effectiveness of the risk management framework systems (comprising strategies, processes and reporting procedures necessary to identify, measure, monitor, manage and report on a continuous basis the risks to which the licenseholders are exposed) adopted/developed by license holders as well as the effectiveness of business continuity management plans;
- Developing risk management tools including Key Risk Indicators and enhancing the risk scoring tool to determine the overall risk imposed by licence holders being supervised;
- Contributing in the evaluation of internal models and assessments of the Own Risk and Solvency Assessment of insurance licence holders;
- Continue developing and enhancing the Risk Assessment Framework.
How to apply or query further information:
- We are looking for candidates with solid academic background in risk management, or in a financial services related discipline;
- The role calls for an academic qualification in a relevant field of study at National Qualification Framework Level 6 or better, duly certified by the Malta Qualifications Recognition Information Centre (MQRIC) or a widely recognised professional qualification at a comparable level;
- The applicant is also to possess a minimum of five (5) years working in the area of insurance preferably in risk management. Candidates with longer working experience relevant to the role will be preferred;
- If you do not have the necessary academic or professional qualifications but you have at least ten (10) years of relevant experience in a similar area we would still be interested in speaking with you.
Candidates are to forward a copy of their Curriculum Vitae (C.V.) and an accompanying covering letter providing the motivation for the application.
Other Important Information:
The MFSA is an Equal Opportunities Employer as certified by the NCPE (National Commission for the Protection of Equality) and is committed to a policy of equal opportunity in all aspects of employment and will take care to avoid any form of discrimination in its recruitment procedures. The MFSA reserves the right to withdraw this call at any time and not to select any of the Candidates. It is the responsibility of applicants in possession of qualifications awarded by Universities and other similar institutions outside Malta to produce a recognition statement on the comparability of qualifications issued by the Malta Qualifications Recognition Information Centre (MQRIC). Applicants should do so preferably at the application stage or otherwise at the preliminary interview should an applicant be selected for such an interview. Details can be obtained by accessing the National Commission for Further and Higher Education website under MQRIC heading. The MFSA shall ensure that any processing of personal data is in accordance with Regulation (EU) 2016/679 (General Data Protection Regulation), the Data Protection Act (Chapter 586 of the Laws of Malta) and any other relevant European Union and national law. For further details, you may refer to the Data Protection Policy on the MFSA webpage. Candidates are to note that the submission of any false statement/s or omission, even if unintended, may lead to the cancellation of their application and may render the candidate's appointment liable to termination. Furthermore, please note that candidates may be asked to submit any documentation in support of the information provided, including but not limited to, proof of qualifications and Police Conduct Certificates.
*Public Call Permit: 728/2019
Malta Financial Services Authority:
The Malta Financial Services Authority (MFSA) is the single regulator for financial services in Malta. It was established by law on 23 July 2002 taking over supervisory functions previously carried out by the Central Bank of Malta, the Malta Stock Exchange, and the Malta Financial Services Centre. The Authority is a fully autonomous public institution and reports to Parliament on an annual basis.